Upgrade from 9.5.4 to 9.6.1

All my previous version upgrades were performed by running pg_dumpall in
the older version followed by running 'pgsql -f ...' to install the dumped
.sql file, usually because the upgrade jumped several versions. Now I'd like
to try the available postgres commands.

The older version is installed in /var/lib/pgsql/9.5/data and I just
initiated the new version in /var/lib/pgsql/9.6/data. The earlier version is
currently running.

Is pg_upgrade the recommended way to upgrade from one minor version to the
next? The 9.5 manual recommends this approach for _major_ upgrades (e.g.,
8.4.7 to 9.6.1), but not for _minor_ upgrades (e.g., 9.0.1 to 9.0.4). That's
a first digit upgrade and a third digit upgrade. Since 9.5.4 to 9.6.1 is a
second digit upgrade I suppose it's semi-major, but in which upgrade camp
does it belong?

The command is:

pg_upgrade -b oldbindir -B newbindir -d olddatadir -D newdatadir

and I don't know where to find -b and -B. On my Slackware-14.1 server I have
/usr/bin/postgres and assume it is for the 9.5 release since that's running
and the 9.6 release is initiated but not invoked. The data directories are
easy but where do I look for the two bindirs?

TIA,

Rich